Marks & Spencer will pay its 42 dedicated milk pool members an increase of 2.307p/litre on its base price from today (1 August).
The rise takes the M&S standard litre price to 31.737p/litre and is calculated on the retailer’s Milk Pledge Plus pricing formula. This takes account of producers’ costs of production as well as reflecting retail price movements for milk in M&S stores.
Milk Pledge Plus was launched last year in an extension of the original M&S Milk Pledge, which began 10 years earlier. As well as reflecting farmers’ costs of production, it rewards good infrastructure, hygiene, cleanliness and overall appearance.